Hendrick is most valued NASCAR team

Updated: February 24, 2011, 2:34 AM ET
Associated Press

NEW YORK -- Forbes' annual rankings show that Hendrick Motorsports is the most valuable team in NASCAR for the third consecutive year.

Forbes' report released Wednesday showed NASCAR's top team was worth $350 million. But the report finds the average team value has declined 5 percent over the past year because of declining sponsorships.

Roush Fenway Racing is again ranked second at a value of $224 million, and Richard Childress Racing is ranked third at $158 million.

Joe Gibbs Racing ($152 million) and Penske Racing ($100 million) round out the top five.

Forbes says the average team is valued at $136 million and generated an average of $89 million in revenue last year.

Forbes ranked three Hendrick drivers as the highest paid in NASCAR. Dale Earnhardt Jr. is first at $29 million, followed by Jeff Gordon ($25 million) and Jimmie Johnson ($24 million.)

Tony Stewart was fourth at $18 million and Kevin Harvick fifth at $15 million.


Copyright 2011 by The Associated Press